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Zcash’s price slipped by roughly 2.70% following a rebrand of its flagship wallet amid a messy developer split, raising the risk that the coin’s downtrend could extend further.
Zcash’s original development team has formally separated from the Electric Coin Company (ECC) and launched a new independent entity, the Zcash Open Development Lab (ZODL). The group also rebranded the flagship Zashi wallet to “Zodl,” a move that signals a shift in who steers key user-facing infrastructure.
The team said the change does not require users to migrate funds or alter seed phrases, and that the wallet continues to function normally. The broader implication highlighted in the coverage is that the Zcash ecosystem now operates with two competing centers of influence.
On the 4-hour chart, ZEC is forming a bear pennant after rejecting near $328, identified as the 0.618 Fib retracement. Price has since tightened into a triangle, with lower highs pressing into support around $280.
The pattern follows a sharp drop from above $400, creating a bearish continuation backdrop. ZEC is trading near $285–$290, capped under the 200-period EMA, while the 50-EMA remains below the 200-EMA, keeping momentum skewed lower.
A clean break below $280 would validate the pennant and shift attention to a potential move toward $250–$260 first. The coverage also notes that if selling accelerates, there is scope to revisit $205–$210.
On the weekly chart, ZEC continues to respect a descending channel that has guided price lower since the $540–$560 peak. Rebounds have produced lower highs, and the latest bounce stalled below the 20-week EMA near $329, leaving the weekly downtrend structure intact.
The lower boundary of the weekly channel is projected to fall into the $150–$180 region over the coming months. The article adds that this zone overlaps with ZEC’s 200-week EMA, described as a potential technical magnet if the downtrend persists.
To invalidate the downside path, the coverage says bulls would need to reclaim $300 as support and break above weekly channel resistance.
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